GABELLI & Co INVESTMENT ADVISERS INC. Invests $1.75 Million in Forge Global Holdings, Inc. $FRGE

GABELLI & Co INVESTMENT ADVISERS INC. acquired a new position in shares of Forge Global Holdings, Inc. (NYSE:FRGE) during the 4th quarter, Holdings Channel reports. The fund acquired 39,350 shares of the company’s stock, valued at approximately $1,753,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Forge Global by 5.8% during the third quarter. Vanguard Group Inc. now owns 433,969 shares of the company’s stock worth $7,334,000 after purchasing an additional 23,952 shares during the last quarter. AQR Capital Management LLC boosted its holdings in shares of Forge Global by 305.0% during the first quarter. AQR Capital Management LLC now owns 194,616 shares of the company’s stock worth $109,000 after purchasing an additional 146,565 shares during the last quarter. Millennium Management LLC boosted its holdings in shares of Forge Global by 220.7% during the third quarter. Millennium Management LLC now owns 188,260 shares of the company’s stock worth $3,182,000 after purchasing an additional 129,559 shares during the last quarter. Raymond James Financial Inc. boosted its holdings in shares of Forge Global by 11.8% during the third quarter. Raymond James Financial Inc. now owns 111,006 shares of the company’s stock worth $1,876,000 after purchasing an additional 11,672 shares during the last quarter. Finally, ABC Arbitrage SA acquired a new stake in shares of Forge Global during the fourth quarter worth $4,213,000. Institutional investors and hedge funds own 40.67% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Forge Global in a report on Thursday, January 22nd. Four analysts have rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce” and a consensus price target of $45.00.

Forge Global Stock Performance

Shares of Forge Global stock opened at $45.00 on Monday. Forge Global Holdings, Inc. has a twelve month low of $6.60 and a twelve month high of $45.03. The stock has a market capitalization of $623.03 million, a P/E ratio of -8.65 and a beta of 2.18. The business’s fifty day moving average price is $45.00 and its 200 day moving average price is $43.61.

Forge Global Profile

Forge Global is a financial technology company that operates a digital marketplace for trading shares in private companies. The platform connects shareholders, including employees and early investors, with accredited and institutional buyers seeking exposure to late-stage private ventures ahead of their initial public offerings. By facilitating secondary transactions, Forge Global aims to provide liquidity solutions that traditionally have been limited in private markets.

The company’s core services include trade execution, settlement, and custody for pre-IPO securities, supported by an integrated suite of portfolio management and data-analytics tools.